US red meat exports adding value to corn and soybeans
An updated study from the US Meat Export Federation shows increasing exports of US beef and pork are adding value to US corn and soybeans.
Dave Juday is a senior analyst for World Perspectives, Inc, who conducted the studies. “One in every four bushels of added feed demand was due to beef and pork exports,” he says. “One in every eight tons of added feed demand for soybean meal came from pork exports.”
Dan Halstrom, president and CEO of the US Meat Export Federation says the study quantifies the investment of corn and soybean producers into the USMEF’s efforts to expand global demand for US red meat. “Because livestock is the number one customer of the grain folks the study really highlights the importance of not only the domestic consumption for the meat from those products,” he says. “But also the export demand for beef and pork products.”
Juday says beef and pork exports also contributed more than 12% of the per bushel price of corn and 9% of the per bushel price of soybeans.
AUDIO: Dan Halstrom, US Meat Export Federation